Aluminum Casting Market is Estimated to Witness High Growth Owing to Rising Demand from Automotive Industry

Market Overview:

Aluminum casting involves creating complex shapes using molten aluminum and involves casting non-ferrous metals and alloys into complex shapes. It is majorly used in automotive, industrial machinery, aerospace and defense industries due to its light weight and corrosion resistance properties.

Market Dynamics:

The aluminum casting market is expected to showcase significant growth over the forecast period, owing to rising demand from automotive industry for lightweight vehicles. Aluminum castings allow automakers to reduce vehicle weight and improve fuel efficiency without compromising on strength or performance. The light weight of aluminum helps in meeting stringent emission norms. Additionally, growing industrial automation is another factor boosting the adoption of aluminum castings in machinery and equipment manufacturing. The superior corrosion resistance and durability of aluminum castings makes it suitable for manufacturing industrial parts that require to withstand harsh and abrasive conditions.

Aluminum Casting Market Drivers: Growth in Building and Construction Industry

The building and construction industry has seen significant growth over the past few years globally. Aluminum castings are used widely in this industry for various applications like window frames, doors, railings, staircases etc. due to its strength, durability and corrosion resistance properties. As more infrastructure projects are planned and implemented worldwide, the demand for aluminum castings from this industry will continue to rise. The increased government and private investments in commercial and residential construction sectors will drive higher consumption of aluminum castings.

Get a Sample Copy of the Report : https://www.coherentmarketinsights.com/insight/request-sample/680

Key Players Covered In This Report:

Alcoa Corporation, Aluminum Corporation of China Limited, Ryobi Limited, United Company Rusal, Arconic Inc., China Hongqiao Group Limited, Gibbs Die Casting Corp, Rio Tinto, Dynacast Charlotte, and Nemak S.A.B. de C.V. among others.

Market Segmentation:

By casting process

Die Casting
Gravity Die Casting
High Pressure
Low Pressure
Permanent Mold Casting
Sand Casting
Squeeze Casting

By end-use industry

Transportation & Automotive
Cars & LCV
Other Transport
Aerospace
Building & Construction
Industrial
Others

Key Region/Countries are Classified as Follows:

The following section of the report offers valuable insights into different regions and the key players operating within each of them. To assess the growth of a specific region or country, economic, social, environmental, technological, and political factors have been carefully considered.

The section also provides readers with revenue and sales data for each region and country, gathered through comprehensive research. This information is intended to assist readers in determining the potential value of an investment in a particular region.

◘ North America (United States, Canada, and Mexico)
◘ Europe (Germany, France, UK, Russia, and Italy)
◘ Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
◘ Latin America (Brazil, Argentina, Colombia,.)
◘ The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

Buy this Report: https://www.coherentmarketinsights.com/insight/buy-now/680

Aluminum Casting Market Drivers: Rise in Automotive Production

Automotive industry is another major end-user of aluminum castings. Various engine components, wheels, gear boxes etc. contains aluminum castings. With the growing middle class population in developing nations, the sales of passenger vehicles have increased substantially. In addition, production of electric vehicles is increasing rapidly due to focus on environmental sustainability which use more aluminum than conventional vehicles. This surge in automotive manufacturing will fuel the growth of aluminum casting market. Car makers are also incorporating more aluminum parts to reduce vehicle weight and improve fuel efficiency as per the emission norms.

Aluminum Casting Market Restrain: Volatility in Raw Material Prices

Aluminum is the primary raw material used in casting process. Its prices fluctuate frequently depending on various global economic and geopolitical factors. Any decline in aluminum prices impacts the profit margins of casting manufacturers. Similarly, a sharp rise in input costs puts upward pressure on casting prices, reducing their competitiveness against alternatives. This volatility in raw material prices can restrain the aluminum casting market growth. The manufacturers have less control over aluminum prices and have to bear the burden of unpredictable price swings.

Aluminum Casting Market Opportunity: Growth of Renewable Energy Sector

Installation of renewable energy systems like solar panels and wind turbines require aluminum components for their effective functioning and longevity. Both onshore and offshore wind turbines use huge aluminum castings for various structural parts. Similarly, mounting frames and fittings of solar panel systems are also made using aluminum castings due to its corrosion resistance. With rising concerns over climate change, investments in renewable energy sources are increasing tremendously worldwide. This growing renewable energy sector provides a major opportunity to boost the demand and sales of aluminum castings.

Aluminum Casting Market Trends: Adoption of 3D Printing Technology

3D printing technology is emerging as an innovative production method in the foundry industry. It allows cost-effective production of complex aluminum casting designs which were earlier not possible through conventional sand casting. This additive manufacturing method provides design flexibility, reduces wastage and improves yield rates. Major aluminum casting manufacturers have started adopting 3D printing to cater specialized automotive and aerospace applications. With advancements in 3D printing, its usage for mass production of castings will increase significantly. This emerging trend can positively impact the long term prospects of aluminum casting market.

Request For Customization at: https://www.coherentmarketinsights.com/insight/request-customization/680

Key Benefits For Stakeholders

The report provides an in-depth analysis of the global bromine derivatives market trends along with the current and future market forecast.
This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
Porter's five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the bromine derivatives industry for strategy building.
A comprehensive global bromine derivatives market analysis covers factors that drive and restrain the market growth.
The qualitative data in this report aims on market dynamics, trends, and developments.

The report answers a number of crucial questions, including:

➥ Which companies dominate the global aluminum casting market ?
➥ What current trends will influence the market over the next few years?
➥ What are the market's opportunities, obstacles, and driving forces?
➥ What predictions for the future can help with strategic decision-making?
➥ What advantages does market research offer businesses?
➥ Which particular market segments should industry players focus on in order to take advantage of the most recent technical advancements?
➥ What is the anticipated growth rate for the market economy globally?

Contact Us:

Mr. Shah
Coherent Market Insights Pvt Ltd,
533 Airport Boulevard, Suite 400, Burlingame, CA 94010, United States
✉ Email: sales@coherentmarketinsights.com
📞United States of America: +1-206-701-6702
📞United Kingdom: +44-020-8133-4027
📞Japan: +050-5539-1737
📞India: +91-848-285-0837

About Us:

Coherent Market Insights is a global market intelligence and consulting organization that provides syndicated research reports, customized research reports, and consulting services. We are known for our actionable insights and authentic reports in various domains including aerospace and defense, agriculture, food and beverages, automotive, chemicals and materials, and virtually all domains and an exhaustive list of sub-domains under the sun. We create value for clients through our highly reliable and accurate reports. We are also committed in playing a leading role in offering insights in various sectors post-COVID-19 and continue to deliver measurable, sustainable results for our clients.

This release was published on openPR.